Filed December 14, 2022
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Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $9,619 | $81,358-88.2% | $155,556-93.8% | $80,959-88.1% |
| Participation rate | 66.0% | 66.3%-0.3pp | 78.2%-12.2pp | 67.7%-1.7pp |
| Annual return | 13.14% | 33.39%-20.3pp | 64.84%-51.7pp | 35.67%-22.5pp |
| Employer contribution / active EE | $0 | $3,106-100.0% | $4,675-100.0% | $2,757-100.0% |
| Participant deferral / active EE | $3,201 | $3,455-7.4% | $5,631-43.1% | $4,300-25.6% |
| Admin fee / account holder | $1,112 | $7,994-86.1% | $15,885-93.0% | $6,925-83.9% |